Waterfront Wealth Inc. Has $1.47 Million Stake in Tesla, Inc. $TSLA

Waterfront Wealth Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,640 shares of the electric vehicle producer’s stock after buying an additional 220 shares during the period. Waterfront Wealth Inc.’s holdings in Tesla were worth $1,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Siren L.L.C. bought a new position in Tesla during the first quarter worth $2,332,000. Zuckerman Investment Group LLC boosted its position in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares during the period. Keystone Global Partners LLC bought a new position in Tesla during the first quarter worth $594,000. Strs Ohio bought a new position in Tesla during the first quarter worth $205,495,000. Finally, IFM Investors Pty Ltd boosted its position in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after purchasing an additional 46,087 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 1.8%

TSLA opened at $460.55 on Wednesday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a 50-day simple moving average of $403.03 and a 200 day simple moving average of $343.93. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 307.03, a P/E/G ratio of 16.51 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. Tesla’s revenue was up 11.6% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TSLA. Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. UBS Group set a $247.00 target price on shares of Tesla in a research report on Monday, October 6th. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $381.00.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is owned by company insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.